TDS Certificate articles

What if Employer refuses to issue TDS Certificate / Form 16

The employee has a right to obtain the TDS certificate in form 16 from his employer. The certificate details should be filled in return of income, since no credit for TDS can be given without it. In case your employer fails to issue the TDS certificate, he shall be liable to a penalty of Rs. 100/- for each day of default u/s 272A(2)g). T...

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Posted Under: Income Tax | ,

Delay in Download of TDS Certificate attracts Penalty

Due Date for downloading and Penalty for non-compliance: Please be advised that under the provisions of section 203 of the Income Tax Act, 1961 read with rule 31A, Certificate of tax deducted at source is to be furnished within fifteen (15) days from the due date for furnishing the statement of tax deducted at source. Failure to comply w...

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Posted Under: Income Tax | ,

TDS on salary: Employees responsibility if employer defaults

The Income-Tax Act casts responsibility on the employer for tax deduction at source (TDS) at the time of payment of salary to employees whose salary income is above the maximum amount not chargeable to tax. The employer is required to deduct TDS on salary at the average rate of income-tax and deposit the same with the government within th...

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Posted Under: Income Tax | ,

How to Automate Year End Investment Submission and Verification System

Employers need to deduct taxes from the salaries of their employees every month. To save these taxes, employees submit investment declarations through which they claim allowances and deductions. So, before deducting taxes, an employer computes the taxable income of his employees based on these declarations....

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Generate 100s of Form 16 using simple tool by H&R Block

Every company is mandated to send Form 16 to all your employees.The FORM 16 GENERATOR is a tool which simplifies an employer’s efforts to generate Form 16s for all their employees. ...

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Download TDS Certificates at TRACES within Due date -Reminder

There are many Deductors who have filed TDS Statements for different quarters but not yet downloaded TDS Certificates (Forms 16/ 16A) from TRACES  portal should download the same immediately to avoid Penal Consequences. Downloading of TDS Certificates from TRACES made mandatory:   In this regard, your attention is invited to the CBDT ...

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Posted Under: Income Tax | ,

Generate PDF or Print automatically with Microsoft Excel

Generate PDF automatically or Print automatically saving human time, energy and resources In my earlier Article How to send form 16, Form 16A and other Forms automatically  , we saw how Form 16/16A can be sent to the Deductees automatically saving human time, energy and resources! Here you will see generating PDF and Printing automatical...

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Posted Under: Income Tax |

How to send form 16, Form 16A and other Forms automatically

Let us say you want to send Salary Slips to Employees on a monthly basis or Form 16 to Employees on a yearly basis or Form 16A to Deductees on a quarterly basis or any other Personnel specific attachment. Many Companies/Businesses send these Forms in hard copy by couriering it to the receiving Party which calls for the Courier cost and th...

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Posted Under: Income Tax | ,

Simple ways to avoid Defaults in TDS Statements

We can easily avoid Defaults in TDS statements, by way of adherence to the following basic principles: · Timely Payment of total taxes deducted/ collected · Correct Reporting with regard to PANs, Tax Rate and Challans · Complete Reporting for all Deductees · Timely filing of TDS Statements...

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Posted Under: Income Tax | ,

Consequance for Non – Filing of TDS Statements

For Tax payers: Non/ Late filing of TDS statements results into the TDS Credit not being available to the deductees (employees / vendors) for claiming the amount of tax already deducted from the payments made to them besides generating correct TDS Certificates for them....

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Posted Under: Income Tax | ,

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